Senior Housing Properties Partners on Boston Assets

A sovereign institutional investor paid $261 million to acquire a minority interest in the company’s Seaport District Class A towers.

Boston—Less than a year after refinancing its two Fan Pier properties, Senior Housing Properties Trust has formed a joint venture with an unidentified sovereign institutional investor who bought a minority stake in 11 Fan Pier and 50 Northern Ave. for $261 million.

The investor owns 45 percent equity interest in the joint venture with SNH owning the remaining 55 percent. The Newtown, Mass.-based REIT said the investment amount is based on a property valuation of $1.2 billion, with less than $620 million of existing secured debt on the property…

Senior Housing Properties Partners on Boston Assets

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.